Adani Power Limited has informed the Exchange about Receipt of Letter of Award for 2400 MW Thermal Power Project
ADANIPOWER · price
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Adani Power has received the formal Letter of Award from Bihar State Power Generation Company (BSPGCL) for a 2,400 MW (3x800 MW) greenfield ultra-supercritical thermal power plant to be set up at Pirpainti, Bhagalpur, Bihar on a Design, Build, Finance, Own and Operate basis. The project involves a 25-year long-term power supply agreement won through a tariff-based competitive bidding process at Rs 6.075 per kWh, with the company committing roughly $3 billion in investment. The new plant will add around 13% to Adani Power's existing 18,110 MW thermal capacity and is expected to create 10,000–12,000 jobs during construction and about 3,000 once operational.
This is a large, long-tenure order backed by a state utility that locks in revenue visibility for 25 years and meaningfully expands the company's capacity base, likely supporting future earnings and order book strength. The tariff was the lowest in a competitive bid, which could pressure margins but reflects strong cost competitiveness; investors should watch for the signed Power Supply Agreement and execution timelines.